TORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX:CG) (NYSE:CGAU) announces that it has filed with the U.S. Securities and Exchange Commission its 2024 annual report on Form 40-F consisting of its 2024 annual information form ("AIF"), annual audited financial statements, and management's discussion and analysis ("MD&A"). These filings are available through EDGAR at www.sec.gov. The Company's 2024 AIF, annual audited financial statements, and MD&A have also bee ...

TORONTO, March 04, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. ("Centerra" or the "Company") (TSX:CG) (NYSE:CGAU) announces the appointment of David Hendriks as Executive Vice President and Chief Operating Officer, effective April 15, 2025. Paul Chawrun, Executive Vice President and Chief Operating Officer, will be leaving the Company on March 31, 2025. President and CEO, Paul Tomory, commented, "Paul has made a significant contribution to Centerra since joining in 2022. He was committed to delivering safe ...

Financial Data and Key Metrics Changes - In Q4 2024, Centerra Gold produced over 73,000 ounces of gold and 12.8 million pounds of copper, generating strong free cash flow and increasing cash balance to $625 million [9][10] - Adjusted net earnings for Q4 were $37 million or $0.17 per share, with consolidated all-in sustaining costs at $1,296 per ounce [32][33] - Full year 2024 all-in sustaining costs were $1,148 per ounce, in line with guidance [33] Business Line Data and Key Metrics Changes - Mount Milligan produced almost 38,000 ounces of payable gold and 12.8 million pounds of payable copper in Q4, with full year production below guidance due to lower grades [20][21] - Öksüt produced over 35,000 ounces in Q4 and over 200,000 ounces for the full year, with all-in sustaining costs at $1,327 per ounce in Q4 [26][27] - Thompson Creek's restart activities are on track, with detailed engineering work initiated and a target for first production in the second half of 2027 [30] Market Data and Key Metrics Changes - The average realized price for gold was $2,207 per ounce and for copper was $2.88 per pound in Q4 [32] - Molybdenum sales in Q4 were approximately 2.9 million pounds at an average realized price of $22.67 per pound [32] Company Strategy and Development Direction - The company is focused on maximizing asset value, particularly through Mount Milligan and Kemess, with plans for a pre-feasibility study for Mount Milligan [12][13] - Centerra is committed to responsible mining and sustainability initiatives, including greenhouse gas reduction strategies [17][18] - The company is exploring strategic options for Goldfield, which is currently on hold due to insufficient resource size [11][82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of Mount Milligan and Kemess, highlighting the potential for increased reserves and production [13][14] - The company remains disciplined in capital allocation, prioritizing investments in gold growth while maintaining dividends and share buybacks [52][36] - Management noted that the permitting process for critical mineral projects is being streamlined, which is encouraging for future operations [17] Other Important Information - Centerra's cash balance at the end of the year was $625 million, providing total liquidity of over $1 billion [37] - The company plans to spend $35 million to $45 million on exploration in 2025, focusing on both Brownfield and Greenfield programs [40] Q&A Session Summary Question: Future growth in gold and potential M&A - Management confirmed that gold remains the primary focus and they are looking to unlock value within existing assets before considering M&A opportunities [45][46] Question: Capital return strategy amid rising gold prices - Management stated they are committed to share buybacks and dividends while prioritizing capital allocation towards gold growth projects [50][52] Question: Gold recoveries at Mount Milligan - Management acknowledged lower recoveries in Q4 but indicated improvements are expected as they optimize mining strategies [54][56] Question: Impact of tariffs on Milligan costs - Management expressed confidence that tariffs would not significantly impact costs, as most suppliers are Canadian [60][62] Question: Reserve and resource update at Mount Milligan - Management explained that the increase in grade was due to tighter domain modeling, which resulted in lower ore amounts but higher grades [66][70] Question: Strategy for Goldfield and potential sale - Management indicated Goldfield is on hold for now, but they are open to strategic options such as a sale or joint venture [82] Question: Update on molybdenum operations - Management expressed confidence in the molybdenum business and indicated openness to strategic partnerships if they meet valuation requirements [86] Question: Potential for extending Öksüt's reserve life - Management noted limited exploration potential at Öksüt but acknowledged the possibility of residual leaching from stockpiled inventory [88] Question: Opportunities for additional ounces at Öksüt - Management clarified that while there are no significant opportunities for reclassifying waste as ore, they continuously evaluate operational efficiencies [96][97]

TSX CG NYSE CGAU STRONG PLATFORM BUILDING A FOR FUTURE GROWTH Fourth Quarter 2024 Results Conference Call & Webcast FEBRUARY 21, 2025 Caution Regarding Forward Looking Information This document contains or incorporates by reference "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur ...

Consolidated Financial Statements For the Years Ended December 31, 2024 and 2023 Management's Responsibility for Financial Statements The accompanying audited consolidated financial statements of Centerra Gold Inc. were prepared by management in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. Management acknowledges responsibility for significant accounting judgments and audited annual consolidated financial statements, including respons ...

Core Insights - Centerra Gold Inc. announced its year-end estimates for mineral reserves and resources for 2024, reporting proven and probable gold reserves of 3.5 million ounces and copper reserves of 1,150 million pounds as of December 31, 2024 [2][5]. Mineral Reserves and Resources Summary - Total proven and probable gold mineral reserves increased to 3,488 thousand ounces in 2024 from 3,641 thousand ounces in 2023, with a decrease in average grade from 0.41 g/t to 0.38 g/t [3][30]. - The Mount Milligan Mine contributed 2,826 thousand ounces of gold reserves, while the Öksüt Mine contributed 662 thousand ounces [3][30]. - Measured and indicated gold mineral resources totaled 6,759 thousand ounces, with a slight decrease from 6,880 thousand ounces in 2023 [3][31]. - Proven and probable copper mineral reserves at Mount Milligan increased to 1,150 million pounds, up from 961 million pounds in 2023, with an increase in average grade from 0.17% to 0.20% [5][35]. Project Updates - The Mount Milligan Mine's life has been extended to 2036 through the upgrade of mineral resources and the use of mined-out areas for waste storage [3][4]. - The Kemess Project is undergoing evaluation for potential restart options, with a focus on a combined open pit and underground operation that is expected to be less capital intensive [4][21]. - The Goldfield Project reported an initial measured and indicated gold mineral resource of 706 thousand ounces, with metallurgical testwork indicating recoveries in the mid-60% range [4][23]. Exploration Activities - In 2024, Centerra conducted extensive exploration activities, including 72.3 kilometers of drilling across various projects, with a focus on Mount Milligan and Kemess [8][11]. - The 2025 exploration budget is projected to be between $35 to $45 million, with significant allocations for both brownfield and greenfield exploration [11][29]. - Significant drill results from Mount Milligan included multiple intersections of gold and copper mineralization, confirming the potential for resource expansion [19][20]. Future Outlook - Centerra plans to provide an updated resource estimate and technical concept for the Kemess Project in the second quarter of 2025, following the incorporation of 2024 drilling results [4][21]. - The company remains committed to maximizing the potential of the Goldfield Project while exploring strategic options for its development [4][23].

Core Viewpoint - Centerra Gold Inc. reported its fourth quarter 2024 operating and financial results, highlighting steady production levels and strong cash flow generation, while providing guidance for 2025 production and costs [2][3][4]. Financial Performance - In Q4 2024, Centerra's consolidated gold production was 73,224 ounces, with full-year production at 368,104 ounces, near the low end of guidance [5][12]. - The average realized gold price in Q4 2024 was $2,207 per ounce, while the average realized copper price was $2.88 per pound [5][12]. - The company reported a net loss of $52.5 million in Q4 2024, with adjusted net earnings of $36.6 million [9][12]. - Cash provided by operating activities in Q4 2024 was $92.8 million, with free cash flow of $47.0 million [9][12]. Production and Costs - For 2025, gold production is expected to be between 270,000 to 310,000 ounces, with copper production projected at 50 to 60 million pounds [13][16]. - Consolidated gold production costs for 2025 are anticipated to be $1,100 to $1,200 per ounce, with all-in sustaining costs (AISC) projected at $1,400 to $1,500 per ounce [13][16]. - The company aims to protect margins through optimization initiatives at its sites, particularly at Mount Milligan [4][13]. Capital Expenditures - In Q4 2024, total capital expenditures were $46.5 million, with sustaining capital expenditures at $19.5 million [6][12]. - For 2025, sustaining capital expenditures are expected to be between $98 to $120 million, while non-sustaining capital expenditures are projected at $140 to $160 million [13][16]. Operational Highlights - Mount Milligan produced 37,660 ounces of gold and 12.8 million pounds of copper in Q4 2024, with full-year production at 167,579 ounces of gold and 54.3 million pounds of copper [23][24]. - Öksüt produced 35,564 ounces of gold in Q4 2024, with full-year production at 200,525 ounces [35][39]. - The company is optimistic about the potential for long-term operations at Mount Milligan, with ongoing technical studies and a prefeasibility study planned for 2025 [4][32][34]. Strategic Initiatives - Centerra is focused on the restart of Thompson Creek, with an initial capital investment of approximately $397 million required [44][47]. - The company has renewed its normal course issuer bid (NCIB) to repurchase up to 18,800,929 common shares, representing 10% of the public float [9][12]. - Centerra is also evaluating the Kemess project, which has substantial gold and copper resources, and is updating its resource model based on a recent drilling campaign [55].

Core Viewpoint - Dryden Gold Corp. has successfully completed a C$3.38 million non-brokered private placement, with Centerra Gold acquiring approximately 9.9% of the company's common shares [2][3][4]. Group 1: Private Placement Details - The private placement involved the issuance of 14,930,000 common shares, including 11,988,824 charity flow-through common shares at a price of C$0.24 each and 2,941,176 hard dollar common shares at a price of C$0.17 each, resulting in total proceeds of C$3,377,317 [3][4]. - Centerra Gold was the end purchaser of all common shares issued in the offering, and no finder's fees were paid [4]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated to advance exploration activities at Dryden Gold's 70,000-hectare property located in northwest Ontario [5]. Group 3: Strategic Partnership - Dryden Gold and Centerra Gold have entered into an investor rights agreement, granting Centerra certain rights to participate in future equity issuances to maintain its ownership stake in the company [3][4].

Core Viewpoint - Viscount Mining Corp. has initiated a drill program at its Cherry Creek property in Nevada, in partnership with Centerra Gold Inc. [1] Group 1: Drill Program Details - The first target of the drill program is an area with significant molybdenum and gold geochemical anomalies, underlain by gold-bearing jasperoid [2] - The magnetic anomaly at the first target suggests the presence of a mineralized porphyry at depth, which could be responsible for the silver and base metal veins in the district [3] - The second target aims to explore the continuation of the mineralized Exchequer Fault zone, which is believed to be a key structure for gold mineralization in the area [4] - The drill program will consist of approximately seven Reverse Circulation (RC) drill holes, totaling 1,500 meters of drilling [5] Group 2: Company Overview - Viscount Mining is a project generator and exploration company with a portfolio of silver and gold properties in the Western United States, including the Cherry Creek property in Nevada and Silver Cliff in Colorado [7] - The Cherry Creek property includes 578 unpatented and 17 patented claims, with a history of past production from over 20 mines [9]

NCIB Details - Centerra Gold Inc has renewed its normal course issuer bid (NCIB) to purchase up to 18,800,929 common shares, representing approximately 8.9% of its total issued and outstanding common shares or 10% of the public float [1] - The NCIB will be active from November 7, 2024, to November 6, 2025, with daily purchases limited to 213,230 common shares, excluding block purchase exemptions [2] - The company is not obligated to acquire any common shares and may suspend or discontinue purchases at any time depending on market conditions [2] Previous NCIB Performance - Under the previous NCIB, Centerra repurchased 5,799,800 common shares at a volume-weighted average price of $8.74 per share [2] - The previous NCIB authorized the purchase of up to 18,293,896 common shares and expires on November 6, 2024 [2] Automatic Share Purchase Plan - Centerra plans to establish an automatic share purchase plan to facilitate share repurchases during regulatory black-out periods or self-imposed restrictions [3] - The company may instruct its designated broker to make purchases based on predefined parameters during these periods [3] Rationale for NCIB - Centerra believes its common shares are undervalued relative to its assets and future prospects [4] - The NCIB provides a flexible tool to deploy cash balances for share repurchases while maintaining a strong balance sheet [4] Company Overview - Centerra Gold Inc is a Canadian-based gold mining company operating in North America, Türkiye, and other global markets [5] - The company operates two mines: Mount Milligan Mine in British Columbia, Canada, and Öksüt Mine in Türkiye [5] - Centerra also owns the Goldfield District Project in Nevada, the Kemess Project in British Columbia, and the Molybdenum Business Unit in the US and Canada [5] - The company's shares trade on the TSX under the symbol CG and on the NYSE under the symbol CGAU [5]